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We are a small 11 unit coop. At a shareholder meeting with quorum of 8 present how many votes are required for a 2/3 majority vote to pass? Is it 2/3 of 11 or 2/3 of 8?
Join the Conversation Comments (2)I have a small 10 unit building 5 shareholders how many shareholders do we need to remove a board member that has withdrawn funds from the building for personal use can we have 2 concerned shareholders
I would call the cops or contact the district attorney.
If you're talking about supermajority approval for something as required under your proprietary lease, the 2/3 majority almost certainly means neither "2/3 of 11" nor "2/3 of 8." It means "2/3 of the total number of shares issued by the co-op." Check your governing documents to be sure. Our own lease puts it this way: "... lessees owning at least 66-2/3% of the then-issued shares of the Lessor."
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I would say 2/3 of those present. In this case, 6 of the 8.
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